TJX downgraded to Neutral from Buy at Redburn Atlantic

Redburn Atlantic downgraded TJX to Neutral from Buy with an unchanged price target of $100. TJX is a high quality off-price retailer in a segment that is continuing to gain share from traditional retail segments, the analyst tells investors in a research note. However, the firm sees current consensus expectations as too high, given the strong operating outperformance the company has already delivered relative to peers. A moderation in expectations set by management may limit share upside in the near-term, says Redburn Atlantic.